IndiaInfoline views on Reliance Capital, Educomp Solutions

IndiaInfoline on Educomp Solutions - Target Rs 790

IndiaInfoline has recommended buy rating on Educomp Solutions with a target of Rs 790, in its research report.

"On Monday, Educomp Solutions broke out from the stiff resistance zone of 742-745. The stock moved in the range between Rs 745-697. The daily RSI is already in strong buy mode, indicating that the prices are set to rally from the current levels. On the weekly chart, the stock has broken past the downward sloping trendline from Last week of October 2009. Based on above technical analysis, we recommend traders to buy the stock at current levels or up to the levels of Rs 750 for an initial target of Rs 790. It is advisable to maintain a stop loss of Rs 738 on all the long positions."

IndiaInfoline on Reliance Capital - Target Rs 930

IndiaInfoline has recommended buy rating on Reliance Capital with a target of Rs 930, in its research report.

"Reliance Capital has seen a severe correction from the levels of Rs 1,668 in June 2009 to a low of Rs 681 in November 2009. This was a panic bottom and since then it has rallied higher without a retest of this low. On the daily charts, the price movements appear to have formed a higher bottom formation. The stock broke out to break out from last one-week trading range. The bullish formation is confirmed after the stock gave a close above its short-term moving averages. Traders can buy the stock at current levels and on declines to the levels of Rs 883 with a stop loss of Rs 872 for a short-term target of Rs 930 in the coming trading sessions."